Oyster Renewable has partnered with MS Agarwal Foundries Pvt Ltd to develop a 48 MWp solar-wind hybrid renewable energy project in Andhra Pradesh.
The project will supply renewable electricity to MS Agarwal Foundries by combining solar and wind generation. Once operational, it is estimated to generate more than 12.2 crore units of electricity annually and avoid approximately 86,620 tonnes of carbon dioxide emissions.
The development will be Oyster Renewable’s third renewable energy project in Andhra Pradesh and will expand its portfolio of projects supplying commercial and industrial consumers.
Andhra Pradesh Expansion
The project is being developed against the backdrop of the Andhra Pradesh Integrated Clean Energy Policy 2024, which covers solar, wind and hybrid renewable energy projects and provides for the development of Renewable Energy Zones.Under the policy, eligible wind-solar hybrid projects can receive a 50 per cent exemption on transmission and wheeling charges for five years from the date of commercial operation. Andhra Pradesh is targeting 72.60 GW of renewable energy capacity by 2030.
Ateesh Samant, COO, Oyster Renewable, said hybrid projects could provide industrial consumers with a more balanced generation profile by combining solar and wind resources. “Hybrid projects answer that challenge, because solar and wind complement each other to deliver a steadier supply than either source alone,” Samant said.
Oyster Renewable operates as an independent power producer focused on renewable energy projects for commercial and industrial consumers, with solar-wind hybrid projects forming part of its portfolio.